10 AI Solutions for Automobile Dealers

Technology is constantly reshaping our world in every way possible and artificial intelligence has made its presence felt nowadays in all areas. But what is artificial intelligence? Well, it’s the development and execution of computer-based electronic systems at a human level. The term artificial intelligence (AI) first came up in 1965 and has since then become the latest technology incorporated in different industries across the globe. Its arrival and practical implementation in industries have paved the way for multiple opportunities.

But what makes artificial intelligence so important and attractive? It's undoubtedly creative and brainy and allows the software to execute tasks with human capabilities such as comprehension, reasoning, planning, communication, and perception. Computer scientists like John McCarthy designed artificial intelligence to think like humans and to go beyond human capability and find insights that humans can't, especially when it comes to complex problems or finding insights in massive amounts of data.

Its main mission is to empower every organization on the planet to achieve more. Companies now invest in intelligent services that help people boost creativity output at their jobs and reach beyond the boundaries of normal human thinking and capacity. Artificial intelligence is here to complete human capacity not to compete with it.

If we take closer a look at the automotive industry we can see that artificial intelligence plays a significant role and offers efficient solutions in areas such as:

1. Marketing and Sales

Marketing and Sales departments are already using AI to their advantage like gathering essential customer insights and behavioral patterns to make their advertising and sales promotions more relevant to the customer's life. This enables auto dealers to become friendlier with consumers through personalization while gathering relevant data and pushing customers further down the sales pipeline with AI-powered appointment scheduling.

2. Research and Development

In the automotive field, researchers are always on the lookout for patterns and opportunities to develop models that uncover efficiencies. AI is aiding researchers in getting accurate data across fields, becoming faster at expediting information-based decision making and encouraging improved and informed frameworks.

3. Energy Conservation

The use of artificial intelligence in electric cars can help optimize energy conservation. These vehicles use AI to anticipate traffic patterns and adjust battery usage accordingly. AI can also predict the most efficient routes to take, reducing the amount of energy wasted in traffic. Additionally, AI can monitor battery health and alert the driver when the battery is running low, which helps ensure that the driver doesn't go further than the battery will allow.

4. Autonomous systems

Artificial intelligence can make dealership systems operate independently of human input transforming them into autonomous systems. For instance, marketing chatbots, smart assistants, manufacturing robots, self-driving cars, and more.

5. Virtual agents

Now, automotive companies can help their staff do their work more efficiently with the help of AI virtual agents which are computer programs that can interact with customers or staff at a human level of intelligence. These virtual agents can generate daily tasks and take the mundane duties out of your workday.

6. Natural Language Processing (NLP) and Machine Learning (ML)

When we talk about NLP, we refer to AI which enables machines to understand and interpret human language. Artificial intelligence offers machines the capability to process and interpret natural language data, such as text and video.

Machine learning refers to the computer´s ability to learn from data and make decisions without having a human explicitly program it.

AI-powered solutions help dealerships automate their customer service processes. The ICOM AI platform provides NLP capabilities that teams use to better understand customers’ queries and provide intelligent responses. It also provides ML capabilities to improve customer service performance. The deep integrations between ICOM AI and automotive CRMs offer dealers the ability to better track their customer’s conversations, provide personalized lead assignment, and automate several service tasks, such as follow-up and outbound calls. This integration can help improve service efficiency and satisfaction.

7. Learning and Training

Imagine conversing with a well-trained virtual assistant for a semester or two. You've never met the person, but they're extremely useful and helpful as it answers your questions and solves your issues with accuracy and an elevated level of certainty. Humans are fundamentally the same but our brain intakes information differently and at different speeds, that's why AI helps personalize teaching processes and benefits both students and teachers every day. In the automotive industry, those virtual assistants can help customers with their questions, queries, and needs while providing them with accurate information.

8. Finance

The finance field of automotive is increasingly using artificial intelligence to enhance efficiency and reduce costs. AI has become an extremely efficient tool as it helps automate processes such as fraud detection, customer service, and portfolio optimization. Finance professionals also use AI tools such as machine learning, deep learning, and natural language processing to help make better-informed decisions. Additionally, developers can use AI to build automated customer service tools that improve and personalize your customers’ experiences.

9. Inventory acquisitions

Automotive dealerships can use artificial intelligence to help automate and streamline inventory acquisition processes. Most businesses utilize AI-powered algorithms to analyze past inventory transactions and predict future demand to forecast their inventory needs and order the right amounts of goods at the right times.

Dealers can purchase vehicles from the service drive using automation to ensure they offer high-quality vehicles to all customers. ICOM AI dynamic conversations provide dealerships the opportunity to acquire vehicles that are in high demand or have unique features. The AI assists by automatically contacting scheduled service appointments or past service customers via SMS and engages them to sell their vehicles.

10. Automotive Industry

Artificial intelligence has become particularly important in the automotive industry as it has enabled automakers to develop autonomous vehicles that can drive themselves with little human input. The industry is also taking AI to develop advanced driver-assistant systems that can help drivers avoid accidents, reduce traffic congestion, and save fuel. Automakers are also exploring how they can maximize AI to create personalized driving experiences and predictive maintenance systems. AI technology will become even more important in the automotive industry as it continues to evolve.

So, why has artificial intelligence become so popular and useful nowadays? Well, it´s useful because it surely improves the accuracy and efficiency of various tasks by minimizing human errors. AI is popular because people need and want to be ahead of technology. People want to stay informed, solve complex problems faster, and in easier ways, create innovative solutions, and enjoy life in every way possible.

ICOM AI is specifically designed to help dealerships attain their goals by leveraging the latest in AI. With the help of AI, companies will be able to create products and services that improve the quality of life for people around the world. Interested in the benefits of AI across your dealership? Click here to schedule time with our team today.

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